Significant Increase in Capital Investment Needed to Meet Demands of Growing Economy

 

Shannon Chamber welcomes the announcement yesterday (31 January 2017) by Minister Donohoe and Minister Noonan of the process for review of the Capital Plan in 2017 and the commitment to prioritise investment in infrastructure that will support Ireland’s sustainable economic development.

As stated by Chambers Ireland CEO, Ian Talbot: “As our economy and population continues to grow, there will be increased pressure on our existing infrastructure, which has also suffered badly from under investment over recent years. If we are to meet the demands of our growing economy then Ireland urgently needs significant increases in capital investment. This is particularly the case, if we aspire to attract additional foreign direct investment from multi-nationals who may wish to leave the UK following their EU exit, we must also ensure that our infrastructure can meet the additional demands this growth will create.”

Adding to this comment, Shannon Chamber CEO Helen Downes referred to the completion of the M20 motorway from Limerick to Cork as a priority infrastructural deliverable for the Mid-West region. 

“As outlined in the Atlantic Economic Corridor (AEC) regional economic strategy report, produced by the Chambers along the western seaboard, the development of a comparable north/south transport corridor is moving too slowly. The roads from Cork to Limerick and from Galway to Letterkenny require serious investment to be adequate to regional and national need.”

 

 

 

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